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No particular topic dominated the airwaves last night, leaving the talking heads to keep themselves busy with an assortment of issues. New digital platform for land allocation to be launched soon: Masaa DMC’s Ramy Radwan highlighted a Cabinet statement that it will launch soon a new online portal to submit industrial land allocation requests (watch, […]
Author Archives: enterpriseam admin
Posted inSpeed Round
Short selling coming to the market before year-end
Expect short selling to be activated before year end: Short selling is set to be activated before year-end, EGX Chairman Mohamed Farid told Bloomberg TV (watch; runtime 6:18) and Reuters in two separate interviews. “Before the end of the year we are going to see short selling up and running and being implemented. We are […]
Posted inSpeed Round
Al Babtain looking to offer “substantial” stake on EGX in 2020
IPO WATCH- Telecom company Al Babtain looking to IPO in 2020: Al Babtain Power & Telecommunication Egypt (ABPTE), a subsidiary of Saudi Arabia’s Al Babtain Power & Telecommunication Company, is in the final stages of negotiations with a number of investors to offer a “substantial” stake in an IPO on the EGX next year, sources […]
Posted inSpeed Round
Mercedes-Benz appoints three new authorized dealers
Mercedes-Benz is branching out across Cairo: Abou Ghaly Motors, Ezz El Arab, and German Auto Service will be added to the Mercedes-Benz Egypt retail network in the Greater Cairo Area, according to a company statement (pdf) released yesterday. The three dealerships are undertaking measures to fulfill the latest Mercedes-Benz dealership requirements and standards. German Auto […]
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Egypt’s foreign reserves remain essentially flat at USD 44.97 bn in August
Foreign reserves again remain essentially flat in August: Foreign reserves increased slightly to USD 44.97 bn at the end of August, compared to USD 44.91 bn in July, according to central bank data. The small increase comes despite the IMF dispatching the final USD 2 bn trancheof the USD 12 bn extended facility at the […]
Posted inSpeed Round
Gov’t to soon launch electronic platform for industrial land sales in Egypt
CABINET WATCH- The government will “soon” launch an electronic platform for investors to buy industrial land amid efforts to promote transparency and fair competition in the sector, the Madbouly Cabinet said in a statement following its weekly meeting yesterday. The government is also working on simplifying customs procedures to release goods at ports as part […]
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Egyptian startup Instabug now serves over 25k clients
STARTUP WATCH- Instabug now serves 25k clients: Cairo-based startup Instabug is now serving over 25k clients — including PayPal, Buzzfeed, Samsung, Lyft, Soundcloud, and OnePlus, Co-Founder and CEO Omar Gabr wrote in a blog post that was also picked up by Menabytes. The bug reporting tool has been used to report 400 mn issues through […]
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Earnings watch: Palm Hills’ net profit up 3% despite 25% drop in revenues
EARNINGS WATCH- Palm Hills Development’s (PHD) net profit rose 3% to EGP 451.47 mn in 1H2019, from EGP 439.9 mn during the same period last year, according to the company’s earnings release (pdf). The increase in net profit came despite revenues for the period falling 25% to EGP 2.5 bn from EGP 3.3 bn.
Posted inSpeed Round
Palm Hills appoints Mohamed Fahmy as new COO
MOVES- Palm Hills Developments has appointed Mohamed Fahmy as chief operating officer and executive member of the board of directors, effective immediately, the company said in a statement (pdf).
Posted inSpeed Round
Vienna remains the world’s most liveable city in EIU’s global liveability index
Vienna held tight to its title as the world’s most liveable city for the second consecutive year, with a score of 99.1 out of 100 in the Economist Intelligence Unit’s global liveability index. The index looks at access to health care, education, infrastructure, culture, environment, political and social stability as key components of each country’s […]